Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce that a Type B Water License has been issued by the Mackenzie Valley Land and Water Board (MVLWB) approving TerraX’s broad exploration plan for all land holdings of its Yellowknife City Gold (YCG) project. The Water License enhances the new Land Use Permit (LUP) (news release February 27, 2019). This water license is effective for 7 years until March 6, 2026 and covers all of TerraX’s claims and leases on the entire 70 kilometer length of the YCG project.
President and CEO David Suda stated: “Receiving the Type B Water License significantly enhances exploration and development potential at the YCG project.”
TerraX wishes to acknowledge the many community and government stakeholders who were engaged during the permitting and licensing processes including the support of the City of Yellowknife, CanNor, the Department of Fisheries and Oceans, and the Government of the Northwest Territories Department of Industry Tourism and Investment. TerraX would also like to thank the technical staff of the MVLWB for their guidance and review of TerraX’s application.
About the Yellowknife City Gold Project
The Yellowknife City Gold ("YCG") project encompasses 783 sq km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, TerraX controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YCG project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.
The YCG project lies on the prolific Yellowknife greenstone belt, covering 70 km of strike length along the main mineralized break in the Yellowknife gold district, including the southern and northern extensions of the shear system that hosted the high-grade Con and Giant gold mines. The project area contains multiple shears that are the recognized hosts for gold deposits in the Yellowknife gold district, with innumerable gold showings and recent high-grade drill results that serve to indicate the project's potential as a world-class gold district.
For more information on the YCG project, please visit our web site at www.terraxminerals.com.
On behalf of the Board of Directors
President and CEO
For more information, please contact:
Manager of Corporate Communications
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This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.